New US tariffs on China take effect

New US tariffs on China take effect with no compromise in sight. Washington imposes $200bn taxes on Chinese goods, while Beijing targets $60bn of US goods.

The Guardian

The United States and China have imposed new tit-for-tat tariffs against each other’s goods, the latest escalation in a heated trade war between the world’s two largest economies.

US tariffs on $200bn worth of Chinese goods and retaliatory tariffs by Beijing on $60bn worth of US products took effect at 0400 GMT. The two countries already exchanged tariffs on $50bn worth of each other’s goods earlier this year.

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